AFP: BoE cuts rate to 0.5%, embraces 'quantitative easing'
Announces 75-billion pound asset purchase program
The Bank of England cut interest rates by another 50 basis points on Thursday to a record low of 0.5%, and said it would buy assets worth 75-billion pounds in a drive to help the economy by expanding the money supply.
The latest rate reduction means the BoE has now cut interest rates for six months running by a total of 4.5 percentage points.
